Airbus, the European plane maker, has reported a significant surge in profit and revenue for the second quarter of this year. The company remains confident in its ability to meet its financial targets and deliver approximately 720 planes to customers in 2023.
In Q2, Airbus recorded quarterly revenue of €15.90 billion ($17.58 billion), marking an impressive 24% increase compared to the previous year. Over the first six months of the year, Airbus delivered a total of 316 aircraft.
Chief Executive Guillaume Faury expressed satisfaction with the company’s performance thus far, highlighting their success across various business sectors amid a complex operational environment. Faury also emphasized the strong demand for Airbus commercial aircraft, with more than 800 orders announced at the Paris Air Show.
The company’s preferred measure of profitability, adjusted earnings before interest and taxes, climbed by 34% to €1.85 billion during the quarter. Additionally, reported net profit jumped by 55% to €1.06 billion.
According to estimates from 20 analysts, Airbus was expected to report revenue of €15.87 billion, adjusted earnings of €1.73 billion, and a net profit of €1.20 billion for the quarter.
Looking ahead, Airbus maintains its outlook for adjusted earnings of approximately €6 billion for the full year. Furthermore, the company anticipates free cash flow before mergers and acquisitions and customer financing to reach around €3 billion.